Daily Summary, July 16

Lead stories

Russia has significantly tightened its digital currency law ahead of the second reading. Starting in 2027, crypto exchanges will be required to obtain a license, retain customer data for five years, and maintain at least RUB 15 million in own capital.

The MAX messenger, as well as the VK and Odnoklassniki apps, have been removed from Google Play.

Volvo plans to launch its own cryptocurrency for supplier settlements within a closed ecosystem.

Over the past few days, the U.S. government has transferred more than $338 million worth of crypto assets from seized wallets to Coinbase Prime and newly created addresses.

Russia has launched its first insurance policy for crypto platforms, covering losses caused by cyberattacks, technical failures, and digital asset theft.

In South Korea, an investor attacked a crypto blogger with a knife after allegedly losing money by following the blogger’s advice. The victim survived, and the attacker was arrested two hours later on suspicion of attempted murder.

ZachXBT criticized hardware wallets, calling them "garbage," and described Ledger as the worst option due to recurring issues following Ledger Live updates.

Cypherpunk legend Adam Back, whom many believe to be the real Satoshi Nakamoto, advises investors to buy Bitcoin during the current dip, hold it, and avoid being shaken out of the market.

SpaceX shares have fallen below their IPO price, losing about one-third of their value from the post-listing peak.

Tether is investing $20 million in the Argentine neobank Ualá as part of its strategy to expand its presence in Latin America.

Researchers have found signs of manipulation in Polymarket’s Bitcoin contracts. Traders may have pushed the BTC price in their desired direction during the final seconds of trading to secure payouts. A total of 821 wallets reportedly earned $8.22 million through these anomalous trading cycles.

Visa is launching a stablecoin platform that will allow banks and fintech companies to integrate cryptocurrency payments into their existing financial infrastructure.

The U.S. Senate unanimously made it clear that Sam Bankman-Fried will not receive any special treatment.

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